Buford Rogers was arrested Friday after a search of the 24-year-old's Montevideo home turned up Molotov cocktails, suspected pipe bombs and firearms.

FBI spokesman Kyle Loven wouldn't elaborate Monday about the nature or target of the alleged plot, but says authorities believe there "would have been a localized terror attack, and that's why law enforcement moved quickly."

The FBI says it believes authorities potentially saved the lives of several local residents. The investigation is ongoing.

Rogers is charged with one count of being a felon in possession of a firearm.